M&T Bank Co. Plans Quarterly Dividend of $1.35 (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) announced a quarterly dividend on Tuesday, November 19th,RTT News reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 1.35 per share by the financial services provider on Tuesday, December 31st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, December 2nd.

M&T Bank has a payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect M&T Bank to earn $16.40 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 32.9%.

M&T Bank Stock Down 0.1 %

MTB stock opened at $213.52 on Thursday. The company’s 50 day moving average is $189.91 and its two-hundred day moving average is $168.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a twelve month low of $123.46 and a twelve month high of $216.84. The stock has a market cap of $35.43 billion, a P/E ratio of 15.80, a PEG ratio of 3.01 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Research analysts expect that M&T Bank will post 14.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John R. Taylor sold 1,436 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares in the company, valued at $1,095,678.54. This trade represents a 20.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the completion of the sale, the executive vice president now directly owns 2,787 shares of the company’s stock, valued at $596,696.70. The trade was a 63.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,383 shares of company stock valued at $13,576,801 over the last three months. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MTB shares. Barclays raised their price objective on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Morgan Stanley raised their target price on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wedbush upped their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $199.65.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.